Euro Gripes Threaten Economic Recovery as Populism Advances

Alessandro Speciale
October 25, 2016 — 7:00 AM EEST

Bloomberg

Anti-establishment parties are gaining ground in the heart of the European Union, and they may pose a bigger challenge to the region’s economy than any of those that have drawn support in the periphery over the past years.
While populists in Spain or Italy are revolting against restrictive fiscal policies and a weakening of social safety nets, the backlash in France and Germany focuses on monetary union itself. Parties openly advocating a break from the euro are building momentum ahead of a year of election across the region and politicians skeptical about EU integration are already twisting policy decisions. Belgium’s Wallonia region blocked a trade deal with Canada just last week.

The threat from Russia

How to contain Vladimir Putin’s deadly, dysfunctional empire
Oct 22nd 2016

The Economist

FOUR years ago Mitt Romney, then a Republican candidate, said that Russia was America’s “number-one geopolitical foe”. Barack Obama, among others, mocked this hilarious gaffe: “The 1980s are now calling to ask for their foreign policy back, because the cold war’s been over for 20 years,” scoffed the president. How times change. With Russia hacking the American election, presiding over mass slaughter in Syria, annexing Crimea and talking casually about using nuclear weapons, Mr Romney’s view has become conventional wisdom. Almost the only American to dissent from it is today’s Republican nominee, Donald Trump.

Rodrigo Duterte’s impetuous pivot

Is the Philippines, until now a staunch American ally, falling into the Chinese camp?
Oct 19th 2016 | Asia

The Economist


EVEN in a year of extraordinary reversals, few would have expected it. In July China reacted with fury when an international tribunal upheld a complaint from the Philippines and rubbished China’s territorial claims in the South China Sea. This week it is rolling out the red carpet for the mercurial Philippine president, Rodrigo Duterte. He is being feted in a four-day state visit, with 400-odd businessmen in tow. Rub your eyes: America’s strongest ally in South-East Asia appears to be plopping like a ripe mango into China’s hands.

Kurdish Troops Advance on ISIS-Held Villages East of Mosul

By MICHAEL R. GORDON and TIM ARANGOOCT. 17, 2016

The New York Times

BADANA PICHWK, Iraq — Kurdish forces on Monday morning began advancing on a string of villages east of Mosul, the start of a long-awaited campaign to reclaim Iraq’s second-largest city from the Islamic State, which seized it more than two years ago, officials said.

About 4,000 Kurdish pesh merga troops are involved in the operation to retake 10 villages, the opening phase of a battle that could take weeks or months and could involve nearly 30,000 Iraqi and Kurdish troops, with American warplanes providing air support. Iraqi counterterrorism forces, which work closely with American Special Operations commandos in Iraq, are also expected to join the Kurdish forces in the coming days.

U.S. says foreign forces in Iraq should be there with Baghdad's approval

Tue Oct 11, 2016 | 4:36pm EDT

Reuters

Foreign military forces in Iraq should be there with the approval of the Baghdad government and under the umbrella of the anti-Islamic State coalition, the U.S. State Department said on Tuesday.

Turkey and Iraq disagree over the presence of about 2,000 Turkish troops at a base in northern Iraq, as the coalition prepares for an attack on the Islamic State-held city of Mosul.

U.S., Russia not yet eye-to-eye on possible resumption of Syrian cease-fire

The Washington Post
By William Wan, Karen DeYoung and Liz Sly September 4 at 2:05 PM

HANGZHOU, China— Efforts by the United States and Russia to forge a deal for a cease-fire in Syria and to coordinate their counterterrorism operations there faltered again Sunday, even as a major new Syrian-Russian offensive in the besieged city of Aleppo appeared to undermine key components of the proposed agreement.

After an anticipated news conference did not take place, Secretary of State John F. Kerry told reporters that his negotiations here with Russian Foreign Minister Sergei Lavrov snagged on “a couple of tough issues” — nearly identical to the language he used when the two failed to reach agreement in their last meeting, just over a week ago in Geneva. Officials said they would meet again Monday.

China Will Try to Deflect G-20 Complaints at Hangzhou Summit

Amid backlash against globalization, Beijing casts itself as victim—not cause—of ‘trade protectionism’
The Wall Street Journal
By CHUIN-WEI YAP
Updated Sept. 1, 2016 12:31 a.m. ET
14 COMMENTS
BEIJING—A summit of major economies meant to be a moment of glory for China coincides with a world-wide backlash against globalization—and much of it is blamed on China.

Beijing sees gatherings of world leaders as its chance to emphasize China’s ascending role on the world stage, and spares no effort to ensure outsize pomp—or blue skies—for the occasion. But as President Xi Jinping prepares to welcome leaders of the Group of 20 economies to the ancient city of Hangzhou, keeping China from being singled out as a hindrance to global growth is increasingly emerging as a goal.

Japanese Government Urges Another Increase in Military Spending

By MOTOKO RICHAUG. 30, 2016
The New York Times

TOKYO — The government of Prime Minister Shinzo Abe is requesting another increase in spending on Japan’s armed forces, with a plan to expand missile defenses that would test the nation’s commitment to pacifism and escalate a regional arms race with China and North Korea.

With rising threats from North Korea’s nuclear and ballistic missile program and repeated incursions by Chinese ships into waters surrounding a string of islands claimed by Japan, the request would let the Defense Ministry develop new antiballistic missiles and place troops on southern islands closer to the chain in dispute with China.

If approved, the budget proposal for 5.17 trillion yen, or $50.2 billion, formally submitted on Wednesday, would be the nation’s fifth-straight annual increase in military spending. It is a 2.3 percent rise over last year.

India and U.S. deepen defense ties with landmark agreement

By Rama Lakshmi August 30 at 4:30 AM
NEW DELHI — After nearly a decade of painstaking discussions, India and the United States signed a landmark defense agreement Tuesday that will increase the military cooperation between two of the world’s largest democracies.

The agreement was finalized during a visit to Washington by Indian Defense Minister Manohar Parrikar, and it was touted as a symbol of deeper defense ties between the two nations in an increasingly tense part of the world.

The Latest: US asks Turkey to focus on fight against IS

The Washington Post

By Associated Press August 29
BEIRUT — The Latest on the developments in the Syrian civil war (all times local):

10:20 p.m.

U.S. Defense Secretary Ash Carter says the United States is trying to “de-conflict” U.S.- backed actions against the Islamic State by Turkey and by the American-backed Syrian Kurdish rebels known as the Syrian Defense Forces.

Carter says some of the SDF fighters are affiliated with the so-called YPG, a Kurdish organization that Turkey considers a terrorist group. Carter says the U.S. works with all SDF fighters “in our common interest to defeat” the Islamic State group.

Turkish Military Begins Major Offensive Into Syria in Fight Against ISIS

By TIM ARANGO and CEYLAN YEGINSUAUG. 24, 2016
The New York Times

ISTANBUL — Turkey mounted its largest military effort yet in the Syrian conflict on Wednesday, sending tanks, warplanes and special operations forces over the border in a United States-backed drive to capture an Islamic State stronghold in Syria.

The joint offensive on the city of Jarabulus, one of the last border strongholds of the Islamic State, began hours before Vice President Joseph R. Biden Jr. was to meet with President Recep Tayyip Erdogan in Ankara, the Turkish capital. The timing seemed aimed at easing tensions between the two countries raised by the failed coup in Turkey last month.

Turkey Moves To Restore Relations With Russia And Israel On The Same Day

Closer ties could mean a boost to Turkish tourism, gas prospects for Israel and greater security cooperation.
 06/27/2016 03:19 pm ET | Updated 14 hours ago

The Huffington Post

Sophia Jones
Middle East Correspondent, The WorldPost

ISTANBUL — Turkish leaders on Monday announced a series of landmark moves meant to normalize ties with Russia and Israel after years of tumultuous relations with the two leading world powers.

Strengthened relations — a result of a deal with Israel and a letter to the Russian president calling for restored ties — could lead to a boosted economy and tourism sector in Turkey, lucrative Mediterranean gas prospects for Israel and greater security cooperation at a crucial time in the region.

China Is Not Trying to ‘Rule the Waves’

 06/23/2016 02:10 pm ET

The Huffington Post

Liu Xiaoming
China’s ambassador to Great Britain

LONDON — “Rule, Britannia! Rule the waves!” This was the patriotic chant of the British Royal Navy when the British Empire was taking shape. That naval power was the force that enabled Britain to rise to world dominance 250 years ago.

Today, some suggest that China is singing a 21st-century version of this famous song with new verses: “China rule the waves“. These commentators imply China is turning the South China Sea into a “South China Lake“ by building military bases and blocking the freedom of navigation.

U.S. warns China against provocations once court rules on sea claims

Wed Jun 22, 2016 6:43pm EDT

WASHINGTON | BY DAVID BRUNNSTROM AND MATT SPETALNICK

Reuters

The United States warned China on Wednesday against taking "additional provocative actions" following an impending international court ruling on the South China Sea that is expected to largely reject Beijing's broad territorial claims.

A senior State Department official voiced skepticism at China's claim that dozens of countries backed its position in a case the Philippines has brought against Beijing and vowed that Washington would uphold U.S. defense commitments.

ISIS Expands Reach Despite Military and Financial Setbacks

By MATTHEW ROSENBERG, HELENE COOPER and NICHOLAS KULISHAPRIL 12, 2016

The New York Times

WASHINGTON — American airstrikes have killed 25,000 Islamic State fighters in Iraq and Syria and incinerated millions of dollars plundered by the militants, according to Pentagon officials.

Iraqi and Kurdish forces have taken back 40 percent of the militant group’s land in Iraq, the officials say, and forces backed by the West have seized a sizable amount of territory in Syria that had been controlled by the Islamic State, also known as ISIS or ISIL.

But the battlefield successes enjoyed by Western-backed forces in the Islamic State’s heartland have done little to stop the expansion of the militants to Europe, North Africa and Afghanistan. The attacks this year in Brussels, Istanbul and other cities only reinforced the sense of a terrorist group on the march, and among American officials and military experts, there is renewed caution in predicting progress in a fight that they say is likely to go on for years.

Like the US, China wants a national electricity grid. Unlike the US, China’s just building it.

Vox
http://www.vox.com/2016/3/30/11332900/china-long-distance-transmission
Updated by David Roberts on March 30, 2016, 3:00 p.m. ET

Wind and sunlight are often concentrated in sparsely populated, remote areas. Getting wind and solar power to the population centers where it's needed involves building long-distance power lines. Lots of them.

Earlier this week I wrote about a new long-distance power line in the US and the long, slow path it took to win approval. It was proposed in 2009; construction is expected to begin next year and finish in 2020. Like everything involving electricity in the US, it had to navigate a skein of overlapping jurisdictions, multiple state and local authorities, and federal rules. Every landowner and stakeholder had their say.

So I chuckled when I ran across this Reuters headline yesterday: "China pushes for mandatory integration of renewable power." That's the other way to do it!

What Donald Trump Gets Pretty Much Right, and Completely Wrong, About China

Neil Irwin  @Neil_Irwin MARCH 17, 201

The New York Times

If there is one thing Donald Trump seems sure about, it is that the United States is getting a raw deal from China.

To people who spend time studying the United States’ economic relationship with China, Mr. Trump’s accounting of its dysfunctions contains both legitimate, accurate complaints and elements that completely misstate how things work between the world’s largest and second-largest economies.

“They’re killing us,” Mr. Trump has said in many debates, rallies and television appearances. He has threatened to put a 45 percent tax on Chinese imports “if they don’t behave.”

If you take Mr. Trump’s comments at face value, as president he would try to renegotiate a complex set of ties that has pulled hundreds of millions of Chinese out of dire poverty, made a wide range of goods available to American consumers at more affordable prices and contributed to the decline of American manufacturing.

U.S. confirms death of ISIS operative Omar al-Shishani

Barbara Starr-Profile-Image
By Barbara Starr, CNN Pentagon Correspondent
Updated 2224 GMT (0624 HKT) March 14, 2016

CNN International

Washington (CNN)Two U.S. officials told CNN that the Obama administration has confirmed that ISIS senior operative Omar al-Shishani is dead.

The officials said he was injured in a U.S. airstrike last week and then died subsequently, though they wouldn't say how they know he is dead.

The initial U.S. assessment was that he was "likely killed" in the strike, but further assessments led them to understand he had been injured and only later died.

He was killed along with 12 additional ISIS fighters in a wave of strikes by drones and manned aircraft.

Since then, CNN has learned that Shishani was at a "shura," or meeting with other officials, at the time of the strike. U.S. officials had emphasized at the time it was publicly announced that they were not certain of his death and were assessing whether the strike killed him.

China Weighs Letting Banks Sell Bad Debt to Investors

By CHRIS BUCKLEYMARCH 12, 2016

The New York Times


BEIJING — China is exploring a new way to grapple with its mounting pile of bad corporate debt, though its top central banker sought on Saturday to dispel worries that the plan would simply shift the burden to other parts of the country’s vast economy.

Under the tentative proposal, Chinese officials would allow banks saddled with growing quantities of bad loans to sell that debt to investors, said Zhou Xiaochuan, the governor of the People’s Bank of China. The goal is to help alleviate one of the major drags on China’s economy, the world’s second largest after the United States’ and a major driver of global growth.

But Mr. Zhou and a deputy central bank governor, Pan Gongsheng, said they would take steps to make sure the effort did not create the kind of risk-laden financial products that played a major role in the 2008 global financial crisis. The effort would be modest, regulators would monitor it closely, and mom-and-pop investors would be kept out, they said.

“There’s no need to exaggerate,” Mr. Zhou said at a news conference held as part of China’s annual legislative session in Beijing. “There’s not certainty that this would be a very big market.”

China’s Outflows of Money Slowed in February

By KEITH BRADSHERMARCH 7, 2016

The New York Times

HONG KONG — Few economic statistics have gone as quickly from obscurity to the center of attention from international financial markets lately as China’s foreign currency reserves, widely seen as the best barometer of how long China can avoid a possible devaluation someday of its own currency.

Monthly changes in the reserves these days mainly reflect how much money is being sent out of the country by Chinese companies and families nervous about the country’s economic slowdown and sweeping anticorruption investigations. Over the last five weeks, the Chinese government has waged an aggressive campaign to stem the outflow, through almost daily pledges by officials not to devalue and through much tighter enforcement of the rules on sending money overseas.